Business Insider/Bumble
- Match Group is rallying Friday after a Wall Street analyst launched coverage with a bullish price target of $ 66 — 28% above where shares settled Thursday.
- Nomura Instinet says the online-dating sector could be worth $ 12 billion by 2020.
- Nomura says it’s worried about Facebook’s foray into dating either, and says Match keeps competition at bay by buying out competitors, like its Hinge acquisition this summer.
- Follow Match Group’s stock price in real-time here
Wall Street thinks online dating could be the next hot sector, and the latest estimate sees the market growing to $ 12 billion by 2020.
It all comes down to peoples’ increasing willingness to try out online dating, Mark Kelley, an analyst with Nomura Instinet, said in an note to clients Friday. It’s his first research published on Match Group — the company behind Tinder, OKCupid, Hinge, Match.com, and a slew of other singles sites — where he’s easily the most bullish analyst, with a $ 66 price target for the stock — 28% above where shares settled on Thursday.See the rest of the story at Business Insider
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